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Ocean Pointe Resale Deal

sd2734

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Just wanted to run this by the board:
2BD/2BA platinum (1-17 and 51,52) lockoff with Ocean Side views.
Usage starts in 2012. MF 1,350 :wall:
Asking price $8,000 with about $620 in Closing and Resort fees.
Is this a good selling price and overall deal?
 

rudy

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Marriott: Barony, Ocean Point, KoOlina, Surfwatch
Very Tempting

If it is annual usage then a good deal. Lowest I have seen on ebay has been around $10K for Platinum Ocean Pointe. I'd buy it if I had the cash and more vacation time.

FYI: We own Ocean Pointe and we love it! Biggest problem is many snowbirds have purchased several weeks so you have to call at 12 months out and 9:00 am and be willing to accept a Sunday or Thurs check-in... The SAT check-in in Platinum season are very difficult for single week owners.
 

sd2734

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You think... Probably we will L/O and use the Studio (it is just my wife and I) portion for a winter getaway probably in Feb/Mar and then trade the 1BD to another possibly summer destiantion (Virgin Islands, Aruba etc)
I really like the price, but $1,350 in MF seems kinda steep.
 
E

EducatedConsumer

$1350. seems high to me, granted there are probably property taxes built into that.

I guess if you were to otherwise spend $300.00 +/- a night to rent, $1350. is cheaper than $2100., but I think the value proposition (risks) of owning is neck and neck these days with renting. If you could get 14 nights out of $1350. (factoring in annual increases) by locking-off, that to me creates some value.

I suspect Palm Beach County taxes may be steep, as are the costs of operating an ocean front resort.
 

sd2734

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My calculation asumptions are: M/F $1,350+II Fee $90+L/O $75+ Exchange Fee $300 (both weeks)= $1,815/year! (I did round some numbers because I am not exactly sure what the various junk :D fees are)
That comes to about $260/nite for the 2BD, but goes to only $130/nite if split into 2 weeks and use 14 nights to vacation.
 

luv2vacation

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I own at OP - that is a great price! Op trades really well in II, the resort is extremely well-kept & has a great staff, general manager, & board of directors.

Those MF (I think they're actually closer to $1250) include everything (incl. real estate taxes). Fees are high b/c insurance is high from being on the beach in S FL. OP was actually damaged by one of the hurricanes a few years ago.

GREAT place to own & visit!
 

GregGH

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How active is Marriott in grabbing these with ROFR ?? Or do they mainly go for ocean front?

Greg
 

dioxide45

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How active is Marriott in grabbing these with ROFR ?? Or do they mainly go for ocean front?

Greg

Marriott is mainly going for nothing. They have picked up a very few high prime weeks at a few select resorts. Of those reported here, one could probably count them on one hand.
 

sd2734

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Is it prudent to do some homework with respect to the week, if yes what exactly should we do, or should we just stay put and count on the Title search to uncover any hidden problems or discrepancies?
 

dioxide45

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Club Wyndham CWA
Is it prudent to do some homework with respect to the week, if yes what exactly should we do, or should we just stay put and count on the Title search to uncover any hidden problems or discrepancies?

If you know the sellers names you can always do some due diligence yourself and search the deeds online if the county has online records.
 
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